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Manila Bulletin devider Philippines devider National devider Simplify loan requirements for modern jeeps, solon tells LBP, DBP

Simplify loan requirements for modern jeeps, solon tells LBP, DBP

Published Oct 4, 2023 05:11 pm

At A Glance

  • AGRI Party-list Rep. Wilbert T. Lee is urging the Land Bank of the Philippines (LBP), the Development Bank of the Philippines (DBP), and other government financial institutions to streamline the overwhelming loan requirements for transport cooperatives and corporations to purchase modern jeepneys. 

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AGRI Party-list Rep. Wilbert T. Lee (Rep. Lee's office)

 

 

 

 

 

AGRI Party-list Rep. Wilbert T. Lee is urging the Land Bank of the Philippines (LBP), the Development Bank of the Philippines (DBP), and other government financial institutions to streamline the overwhelming loan requirements for transport cooperatives and corporations to purchase modern jeepneys. 

Lee, in a recent statement, said the government shouldn't make life more difficult for struggling public utility vehicle (PUV) drivers and operators who want to participate in the government’s PUV modernization program. 

During the plenary deliberations on the proposed 2024 budget of the Department of Transportation (DOTr), Lee noted the cumbersome documents and papers required by government banks to provide loans or assistance to transport cooperatives. 

“The government must not burden the PUV drivers and operators in accessing loans to buy modern jeepneys,” the neophyte solon said. 

“Let us liberalize and simplify these requirements. Marami na ngang na-comply na requirements na hiningi ang LTFRB (Land Transportation Franchising and Regulatory Board) at LTO (Land Transportation Office), kilo-kilometro pa rin ang dami ng hinihingi ng Land Bank o DBP na mahirap kumpletuhin,” he said. 

(Even if you've complied with the many requirements of the LTFRB and LTO, there are still kilometric requirements from Land Bank and DBP that are hard to complete.) 

“It defeats the purpose kung pinapahirapan natin sila. Ano ba talaga ang papel natin dito? Ang tulungan sila o ang pahirapan sila?” he asked. 

(It defeats the purpose if we give the PUV drivers a hard time. What is our true role here? To help them or to burden them?) 

During the said budget deliberation, Lee asked the LTFRB to work hand-in-hand with his office to compel the Land Bank, DBP and other government financial institutions to expedite the process of providing loans for modern jeepneys. 

Lee said that a jeepney driver or operator who earns about P500 to P750 a day cannot afford to buy a modern jeepney worth more than P2 million. 

“We must keep in mind that the transport sector is not only a public service but most importantly, a source of livelihood. 

Aside from streamlining the requirements for said loan, Lee also pushed for the allocation of P1.8 billion for the PUV modernization program, which received zero funding for 2024. 

"We need to understand na holistic at comprehensive itong modernization program. It does not end in just consolidating or buying new public utility vehicles or units," explained the Bicolano.

 

Related Tags

Wilbert T. Lee modern jeepneys Agri Party-list
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